Personal credit


I have been VERY busy establishing myself and my group. You see, this is a tremendous opportunity …we practice what we preach. We already have business credit build up,   now is the time to make use of it.  Well the past two years is when the investing part started for us.

No one can deny that the economy is changing (for better or for worst). As investors we have to take advantage of the situation. Rising prices means you have to sell and falling prices means you have to buy, either way, it is time to take action. Many undervalued assets are out on the market, real estate, abandoned restaurants, you name it. In certain parts of the country the market is already picking up and prices are sky rocketing . Also there is a strong rumor that the market will go down again. With the immigration law at the brink plus other obvious changes that are taking place around the world and especially USA you just know that there will be volatility in the real estate market (and any market for that matter). As an investor you have to take advantage of all this,  all you have to do is start with ONE such property and you can build on that.

Banks are not really easing up on giving capital BUT they ARE giving financing/credit to individual/businesses that are worthy. Read the articles and you will see how you can align yourself and your company for great financing. The basics really have not changed much

Here is a video that brings the point across (although I do NOT agree with everything these two say)

CLICK HERE TO VIEW VID

For now read the free articles on my website and take action

www.ucc-1credit.com

AIMANZUL

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happy New year and Merry X mas…..

We have an end of the sale on the site. Please check it out.

http://ucc-1credit.financial.officelive.com/products.aspx

Also if anyone  purchased more than $50 worth of pdf and have not yet submitted their corp info please do so. All we need is the corp name and address as a minimum for posting to business credit.

Thank you.

Aimanzul

Holiday season coupled with a down economy breeds scam artists. Scams are popping up every place you look. Below I will highlight some scams that still seem to be going on.  They sound very convincing on the phone and can fool the best of us.

According to Federal Trade commission – the highest percentage of total frauds are Credit card fraud followed by Utility Fraud and bank fraud.

1                   You can get a phone call from the fraud department of one of the credit card companies that you deal with. The ‘beauty’ of this one is that they do not ask for your credit card number, which makes it even more convincing. They already have your credit card number. What they will say is that they detected some fraudulent activity on your account and they have to credit your account for the money. That makes it seem even better!

What they are looking for are the last 3 digits on the back of your card. That is the missing link as far as they are concerned.

They will proceed with confidence asking you to just verify the last digits on the back of your card after they basically tell you what your address is and/or last digits 4 of your credit card are.

In such a situation the best thing to do is to ask them for a number so you can call them back immediately.  After that of course call the number on your credit card and tell them what happened.

2                   You get a phone call saying that you are approved for a credit card. These are usually made to people with low credit scores since they are most likely to get excited about an offer for credit. The pitch is usually very professional “You have been approved for …..”. What they want at the end is your bank info for the initial fee for enrollment. “this will help you build credit blah blah etc…”. After which you are likely to receive a UPS package, which will be exciting until you see that there is no credit card offer. Just a bunch of other offers!

3                   You get a letter from a company saying something like “your insufficient check has been forwarded to this office for immediate action”. If a payment is not received within 7 business days from the date listed below, your check could be filed with the appropriate municipal court.

If you call them up an ‘investigator’ will speak to you saying that you wrote a check that bounced. They will sound threatening. When you ask for details they will give you a minimum amount of info saying that their system is down  but that you should send over a certain amount of money atleast to keep from going to court  (or even prison)….you get the idea.

4                   Keep an eye out for all you’re credit cards that you do not use. Check activity regularly. Thieves are getting smarter. They do not steal or find a credit card that is not theirs and go on a spending trip out of town (that will shut the card up automatically). They usually spend a little where they found the card so it does not raise a red flag. Than wait for a day and go nearby to spend some more.

5                   Using your Debt card too often can also create problems. Scammers are attaching a skimming device to an ATM machine that is not a part of the original ATM machine. That device captures the pin number and credit card number etc. Ones they have the number they can easily create their own credit card (a fake one of course) that basically can be used, drawing money from your credit card. Hard to spot Skimming devices but if you notice a change at your ATM like a color difference in the card reader or a gap where something appears to be glued to the slot, it is a source of concern. The safest way is to use a trusted, regularly used ATM machine like inside a bank. The corner store grocery is a no no. The scary part about this is that since your info is stolen you can have your credit card in your pocket and still money gets withdrawn from your card. You will not bother to check since your card is not stolen. Automatic gas stations are notorious for this.

6                   The ‘Cash back’ at a super market. You have a lot of goods that you just bought. The list is long. The cashier puts in $10 or $20 extra, as if you requested‘cash back’ as a customer from your card. You do not bother to look at the bill. The cashier either pockets the cash back amount or gives it to his/her friend that is next in line buying something else!!

If you do look at the bill and see a cash back that you did not request the cashier will either request you to take it since they would have to ring everything up again, claiming the machine might be faulty. The cashier might even insist that you did request it while still apologizing for what happened.  The sad part is that most will not suspect that this was deliberate and even if they do they cannot prove it since the cashier will just void the transaction and ring it all up again. So as far as the scammer is concerned, they can either make some money or worst case, NOT get caught. That just encourages them to keep doing it. There have been cases of investigation. All I am saying is, watch out for it.

7                   Payday Loan collections: Some collection agency will call you up, usually an oversees outsourced ‘fake’ collection agency. They will claim that your payday loan has been defaulted on and you have to pay or you will be taken to court etc etc. Their whole purpose is to collect anything from you …the more the better but anything they can get is good enough. Of course they only call people who have really defaulted on their payday loans (an increasing number these days). If the person asks for more information they will give a number to an attorneys office. That number is usually a DID number that directs calls to another department of the same office, meaning that it is completely fake. The ‘attorneys’ office will tell them that they were already mailed a letter alerting them of the situation etc. Since the customer has actually really defaulted on the pay day loan it is easy to fall for this scam.  These companies usually go on and on since for a couple of hundred dollars people usually do not hire an attorney to help them in this situation. Attorneys probably cost more, than the scammed dollar amount, to just handle the case.

Please feel free to share your own experience. Something that you have heard or experienced/seen first-hand.

Aimanzul

More articles click here


 https://squareup.com/

Here is one great use. Say you have a Staples account. Now you might be approved for the standard $2000.00 business credit but you can only purchase from a Staples store.

What you can do is  buy one or many of their gift cash cards – with the Visa, Master or Amex logo and run it through your square-up and have access to the cash in a matter of two days. The cost will be the fee for transfer which will be a total of like $1-2 and the card cost which will be like $5. Equipped with this knowledge you can keep an eye out for any store that has cash cards or ANY credit card…….you get the idea. Be creative. Like you can use the cash to pay up most of the invoice(s) that you initially incurred with Staples (as an example) when you bought the gift c cards in the first place. That will  show activity on your business credit Staples account  with minimum money out of your pocket. So for like $6.00 you can have $100.00 worth of activity.

Now if you have two separate different store accounts that both carry gift cards you can actually initially buy gift cards to run a balance on one of them, than to pay that off buy gift cards from the other card. That way you can ‘kill two cards with one stone’ ! Making the balance zero on one card as you spend the other card (to buy gift cards to pay the other off). Sears and Staples both carry gift cards especially in the holiday season.

If you only use one store card (as ib the first example) the balance never really goes to zero, the balance is just pushed forward to the next month. Apply it and you will see what I mean.

Two ways, that way you have more options and that is always beneficial.

Aimanzul

Lots of free information on business and personal credit click below

http://www.ucc-1credit.com/articles_1

Aimanzul

Anyone who has had to deal with disputes, inaccuracies and others items on their credit report know that it is not an exact science. Closely monitoring your credit report is a must and trying to nip any problem in the bud is very important. Logic does not seem to always work in figuring out what just happened or what is most likely to happen.

Personally I treat everything with a healthy dose of suspicion. Case in point, if I call up a credit company and request removal of a 30 day late. My argument could be that it was a mistake and otherwise I have a very good payment record with them – a good will approach. Say as a result they promise to remove the late payment. First I will ask for a confirmation number and if they do not have one I will make double sure that the conversation was noted (in their system) as far as removing the late.  After that I will watch my report like a hawk, waiting for the late to come off and follow up if necessary. Usually it takes 1 to 2 months to remove. This is just a simple example …

Below I have highlighted a number of situations that might surprise you as far as personal credit is concerned. They show that personal credit is not an exact science and that experience, knowledge and caution count for a lot.

1    Try your best to get your debt interest rate as low as possible. Initially you might accept almost any rate but gradually you want to lower the rate. Other than the obvious reason of paying more, if you use high interest credit sources your credit score will dip.

2    Do not close your oldest credit card (no matter how bad the terms of the debt) if you do not have a long credit history. The oldest will show ‘age’.

3   Paying of a charge-off account will not really increase your credit score. Just the presence of a charge off account depresses your credit score irrespective of its statues. Hence do not be surprised if you spend money to pay off a charge off account and the score does not change.

4   If a judgment or a collection account is paid off (or settled by a partial payment agreement) do not automatically assume that the original creditor will also indicate that the account was “Paid” or “settled” etc. The credit bureaus do not make these into one account. So the original delinquent debt will most likely remain and remain for the length of the SOL (Statue of limitations, see my other article, click here) if nothing is done about it.

Having said that when an underwriter is involved, like in certain loans or mortgages, he/she will look at the report carefully and will see that the two accounts are the same. They can see that the account(s) have been settled.  Problem is that two ‘bad’ accounts are more likely to depress your credit score and as a result your case (loan/mortgage request, credit report etc) might be rejected on the bases of a low credit score. Meaning an underwriter might not even get a chance to see your report . A higher credit score is always better.

At the very  least, it is best to get a “Delete account” letter AND a “debt settled” or “paid” letters as you negotiate the settlement (see previous article, click here).   Quite simply make it clear that you will not move forward with any negotiation unless they agree to provide those two letters on payment of any settlement amount.
5  Paying off installment loans or student loans will not necessarily increase your credit score, all else being equal. In fact most likely your score will not change at all. It seems that only revolving credit account repayments increases credit score.

6  Closing unused credit card accounts seems to almost always lower credit scores. Plus if you can, try leaving some balance on your credit cards, even if little, when the creditor is making money off you, the creditor is happy.
Here are some more useful tips:

1  Remember you can dispute anything on your credit report. Anything. They have 30 days (30-40 but ask the specific company) to answer and if you send in another request before the 30 days are up the time is just extended. It is better to wait for the allotted 30 days to pass before placing another request.

2   Sending all letters certified mail? Certified mail requires signatures so if you send everything using certified mail some of the items might not go through especially if mailed to the original creditors. Certified mail is only really needs to be done for debt validation with a collection agency.

3  Credit reporting agencies love to ask you for your bankruptcy papers if you ever mention that you are planning to file bankruptcy. Never mention that you want to fill bankruptcy and which accounts you would include in the bankruptcy.  More of this in later articles.

Aimanzul.

For more free Personal credit articles click here and go to the bottom of the page for Personal credit articles

Prepaid cards or loans are the first choice BUT make sure that they report to credit bureaus and not have outrages fees: For example: Applied Bank secured cards can be a choice. Also approach your personal bank for a secured card or loans. (read the Personal credit repair Part1).

After a couple of months move to unsecured cards (or semi unsecured cards). At this stage you have some credit history and you want to apply for unsecured credit. It is not really wise to apply to just any credit card since at this stage you will be rejected by most card companies. An inquiry on your report is a negative so be careful.

Orchard bank is usually a good choice. Of course you would have to put up with some really high fees . Plus do not expect them, in time, to increase your credit dramatically or reduce your rate by much. The aim is to develop some positive credit history and then apply for OTHER credit cards.

Personally I would say apply for a First Premier card as soon as Orchard appears on your credit report.In terms of reporting and developing credit they are good enough BUT it is their ridiculous fees that I do not like. They have a tendency of charging fees even if you have a zero balance on your card. Just be aware of the various fees so you can budget for them. The last thing you want is to be late on payment while rebuilding credit.

After waiting another two months or so I would suggest, Capital one and Discover cards. At this point you should be at a stage that your credit is improving at a faster speed. You will have more choices and you might want to apply to some of the cards that you get offered in the mail. These days Chase is becoming more relaxed in its lending standards. So you might want to consider them also.

Have a good mix of credit: Secured loans (read article on “Personal Credit Repair Part 1” , for the “secured credit trick”), credit cards, installment loans etc.

Here is something that you might not know: If you apply for a years membership with Bally total fitness, the total amount of the years membership appears on your credit. You will keep paying the $10 to $30 per month membership fee and the balance is reduced. So it has an effect of an installment loan and that would certainly help build credit.

These days banks are surprisingly compromising IF they give you credit. May be it is the fear of having another defaulted credit client, I do not know, but use that to your advantage. I have seen situation were one calls up First Premier after using them for a couple of months and asking them to close the account. The reasons given were; high fees and too low a credit limit. After some negotiations First Premier CREDITED the card with enough money so the client would not have to pay the fees out of pocket. This happened with no strings attached, meaning that the card could be closed again after the allotted 6 months. Now I am not saying that this would happen to everyone. I only site this example to illustrate that negotiating with credit companies after you have made some payments can pay off.

Lastly do not forget the power of UCC filings. No need for approvals, no need for picking which place to apply, no need for negotiating and certainly no fees to pay (other than the minor filing fee). UCC should be a part of credit building and repair. As soon as you apply for a secured card or loan you should file UCCs and they work for business and personal credit

Aimanzul

www.ucc-1credit.com

Here is a situation that is not uncommon these days :

An individual that has a couple of maxed out credit cards and a few collection accounts. The cumulative debt is not large enough to file bankruptcy. Bankruptcy should be the last option anyway. That basically is the story of his/her personal credit.


We all know that the collection accounts can be negotiated down if enough time has elapsed. Of course you still would have to come up with the money but it will be a lot less. In most cases you can also work out a payment plan.That leaves you with the maxed out credit on your credit report.


One good way to get positive credit history on your credit (that will result in increased credit score) is to get another credit card or loan. I think it is fair to say that in this economy it is tough to get much credit increase, even if you have decent credit. Years ago one could become an authorized user on someones credit card and add positive credit history, that would certainly help you in this situation. Only problem is that becoming an authorized user does not have the same effect on your credit like it used to. The other option is to borrow money from family or friends to pay off your debt. Mixing family with business is not always a good strategy.


There is another way. Public filings, especially in the form of UCC filings. Credit bureaus are connected to a public filing database that updates periodically (varies by state). They automatically receive all liens and bankruptcy information after it is filed at the county, state or federal level. You can actually file a certain document indicating that you have incurred a debt. Credit bureau will pick it up and as a result it will (one way or another) appear on your credit report. This is another way to add positive credit history. This results is your credit score increasing since a positive credit history appears on your report.


Please understand that this is a completely legal method and is very effective. Of course there is a certain amount of detail to it but at the end it is as simple as I make it sound.


Ever wonder how certain property managers and cars sales people mange to get liens on your credit. This is what they are really doing. A few of the more knowledgeable credit gurus file two or more of these public filings on their clients credit report to increase the credit score. Of course they charge enough money for it and never reveal what they are really doing.


The amazing thing is that even if you have filed bankruptcy you can use this method to quickly add lines on your credit report. Having two such lines on your report plus one secured cards (as an example) will quickly add positive credit history.


As a side note: Small amounts of credit is NOT that hard to get a little after filling bankruptcy. If you default on a debt, a collection agency can go after you for many years (depending on your state) . However, if you file bankruptcy most of the debt that falls under the bankruptcy can NOT be collected. Now, AFTER a bankruptcy you can not file for another bankruptcy for another 6 years or so. This gives lenders the satisfaction of knowing that if you default on their loan and you just filed bankruptcy they WILL be able to go after you for many years to come. As you might know that a judgment is likely to be filed against you and there is a chance that they will deduct your pay check or bank account. So getting some credit after filing bankruptcy is not that hard. Gentle readers there is always a come back.


Going back to public filings: In a nutshell this method that we are advocating eventually has the same effect (even if indirect) as getting a loan and gradually paying off the loan. We truly believe that this remains one of the best kept secrets of credit improvement.

Debt, good or bad (fortunately or unfortunately) is a VERY important part of modern everyday life. Either learn to use it or forever be a victim of it.

Public filings- UCC filings work both for personal and business credit.

AimanZul

www.ucc-1credit.com